E021: Demystifying Tax Strategies and Investments with Chad Gallagher

<p><strong>Chad Gallagher is the co-founder of SlateHouse Property Management, which currently manages over 7,000 units across the Mid Atlantic, SouthEast, and Southwest with local offices throughout.</strong></p> <p><strong>Today, he's going to teach different strategies to move pieces around so when the money comes in, you don't pay tax on profit.</strong></p> <p><strong>Here’s what we talked about:</strong></p> <ul> <li>How Chad got into property management<br> </li> <li>What is accelerated depreciation and how to make use of it<br> </li> <li>Why you should refinance a property and who can help you do it<br> </li> <li>People you should be talking to<br> </li> <li>Real estate investing strategies<br> </li> </ul> <p><strong>Episode Highlights:</strong></p> <p><strong>Some Work You Should Be Doing When Getting into Real Estate Investing</strong></p> <p>Most Americans get a paycheck. It's ordinary active income. And on that, you pay taxes. Think of it as the red bucket. Then there's this green bucket, which is this glorious world of passive income.</p> <p>Have a portion of your week allocated towards investing time. Here are some people you should be talking to your accountant, real estate agents, and syndicators.</p> <p>Look at new green energy opportunities because that's where the world's headed to Who can you meet? Who can be educated? Read the company earnings of different companies because they'll tell you exactly what they're doing and why they're doing it.</p> <p><strong>Real Estate Investing Strategies</strong></p> <p>Choose the right guide. The first part of this is who you are working with. You should have a team of 10 to 15 to 20 people who you are using and with a couple of different real estate agents at all times. If you believe in investing, there's no rule that says you have to have one real estate agent. Have a whole bunch of people out there scouting for opportunities for you based on whatever you're looking for across the country. You don't even pay them until they find you a deal.</p>